The maximum individual grant is $500,000 per year for up to 25 years. That means the $2.5 million available could finance as few as five projects, depending on the size of the requests. The first-come, first-served provision is in the law.
The application form is available at http://dor.wa.gov/Content/DoingBusiness/LocalRevitalizationFinancing.aspx .
The legislation also provided another $2.25 million annually to seven demonstration projects in Bremerton, Auburn, University Place, Spokane, Whitman County, Tacoma, and Vancouver.